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PFS: IFAs need to rethink how they present cost of advice

Personal Finance Society (PFS) chief executive Keith Richards told New Model Adviser® why advisers need to rethink how they present the value and cost of advice. 

Richards said the true cost of advice had moved away from making a product recommendation, but this was not always reflected in how clients viewed the value of advice.

He also said the government's commitment to widening access to advice would benefit IFAs.

'We should not underestimate how much value there is in the government getting behind looking at how it might help increase access to professional advice,' he said.

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